On Monday, the USD/JPY declined by 0.49%, reversing a 0.49% gain from Friday to end the day at 148.496. The USD/JPY rose to a high of 149.240 before falling to a low of 148.433. Monetary Policy and the Middle East in Focus: Following an overnight shift in forward guidance from the Fed, investors must monitor Bank of Japan (BOJ) commentary. BoJ Governor Kazuo Ueda and board members have outlined the requirements for a move away from negative rates. A deteriorating macroeconomic backdrop and the Middle East conflict may force the BoJ to change tack. A more dovish BoJ monetary policy outlook would usually pressure the ... (full story)